Held, that there was no difference between the quantitative details of the stock furnished to the bank and those maintained in the books of account. The difference in the valuation was due to the valuation in stock statement furnished to the bank on estimate basis while in the books of account the assessee valued the raw materials and consumables on cost price basis while the semi-finished and finished goods were valued on the cost of production basis. The Assessing Officer did not point out any defect in the valuation and it was also not the case of the Assessing Officer that the valuation in the books of account was not in accordance with the provisions contained in section 145A of the Act. Therefore, the deletion of the addition by the Commissioner (Appeals) was justified. (AY.2011-12)